The basic problem with the welfare state, the great society, compassionate conservativatism, or whatever you want to call it is that it is it fiscally untenable. Human needs are limited, but human wants are unlimited. This is all going to come crashing down on us in 2-4 years.

Inflation isn’t the worst thing about inflation. Historically, wages catch up pretty quick to rising prices. The problem is interest rates. The rate of interest needs to be higher than the rate of inflation or nobody will loan money, purchase bonds, or buy U.S. treasuries. 20 percent inflation means 22 or 23 percent interest rates - which would wipe out the bond market, batter stocks, kill what’s left of the real estate market, and make current U.S. treasury notes worthless. It will be a huge catastrophe.

Barack Obamas budgetthe one that was too extreme to garner a single vote in either the House or the Senateprojects that in four years, we will have a $20 trillion debt. That debt will be paid off by a relatively small minority of our young people, the most productive.

The debt is never going to be paid off. America is going to default. The debt is currently $16 trillion. The U.S. would have to run a surplus of $500 billion per year for 32 straight years to get back to zero. That. Will. Not. Happen.

If you were in that category, and had to make a choice between staying in the United States and inheriting a debt that could well be $1 million or more, and starting fresh in another country, what would you do?

At this point, it makes more economic sense for the U.S. to default than to pay back $16 trillion.

And if you were an investor, where would you put your money? In the United States, where hopelessness reigns and where high unemployment and close to zero growth are now accepted as normal, or in a country with limited government and a dynamic, growing economy?

The United States isn't the only game in town. There will be plenty of investment opportunities around the world.

The crisis is coming. In March 2009, there were $800 billion U.S. dollars in world circulation. Today that number $2.8 trillion and, thanks to QE3, will be $3.2 trillion by summer 2013. Double digit inflation is inevitable. And with double digit inflation comes double digit interest rates - which will crush bonds, batter stocks, and make U.S. treasury notes worthless - creating a need for more debt and more money printing (Weimar Republic).

The Obama administration has made history by presiding over the first-ever downgrade in the U.S. credit rating. President Obama has outdone all his predecessors in wrecking Americas good name. His answer to this problem: Spend even more.

Granted, the Star-Tribute only quotes three Vikings in this article (including the wimpy kicker who partipates in about eight plays and spends the rest of the game on a heated seat), I can’t help but think this lot of Vikings are so much softer than the old Bud Grant teams. When the Vikings played home games outdoors, they went to four Super Bowls. Since they moved to the Metrodome, they’ve been to none.

Another reason for Germany's resurgence that the Washington Post would rather not mention: when she took office, Merkel and her party slashed the corporate tax from 50% to 25%. As a result, German exports have boomed and unemployment dropped four points. Funny how that works.

After this month's election, I have concluded that California is hopeless.

My theory is that California is corrupted by its great weather: the takers outnumber and outvote the producers, but the productive part of society, at this point, puts up with the insanity due to California's wonderful climate.

When the state collapses, at least it will be fun to say, "I told you so."

"And so, this is the challenge that Jordan has, and the international community has, reaching out to the Israeli Swedish public and saying, do you want to continue to be Fortress Israel Sweden? What a dismal place that would be. And how it continues to affect the whole region. The challenge is to reach the Israeli Swedish people and say, we basically want the two-state solution to happen, so that you can be integrated into the neighborhood."

As a Texas resident, I’ll take Perry. The Texas budget is in decent shape and he’s actually governed pretty conservatively since the pap test fiasco at the beginning of his second term. Perry has also provided a lot of moral support to the Tea Party.

Politicket, you're incorrect. Japan was caught in a deflationary spiral from 1990 to 1998. See the links below.

I agree with the author's conclusion: our economy in 2009 looks much like Japan's in 1989. In 1990, The Bank of Japan and the government tried to eliminate deflation by reducing interest rates, but this was unsuccessful during the decade.

Keynesian spending creates a deficit that sucks all the available capital out of the grassroots economy and transfers it to the Treasury market. Easy funding terms from the Federal Reserve allow financial institutions to make money in government bonds while shutting off credit to the rest of the economy. It's classic crowding out, in which the government's misguided effort to spend its way out of recession pushes the productive economy deeper into the hole.

This is incorrect. In December 2008, Team Bush negotiated a status of forces agreement with Iraq that stipulated all U.S. troops would be out of the country by the end of 2011. It appears that Obama has decided not to deviate from that plan.

The comments after the article are a hoot. Some folks really unsheathe their sarcasm and get medieval on Zero.

I particularly liked this one:

"Hard times, crises, catastrophic economy, I'm calling on all of you to make sacrifices. However, as for me and mine, we're flying to Chicago, paid for by the taxpayers, having dinner at one of the most expensive restaurants there ($120 per person price fixe, plus appetizer and drinks) and then I plan to play some hoops. The crises will wait. The bill has passed. My main concern, I hope they have fresh arugula. One set of rules for me, one for thee. And to all of you who had dinner at home to save money, or have lost your jobs, or just can't afford to go out, Michelle and I will drink a toast to you. We understand. Things will get better for you, I promise, it'll just take alot longer than we thought. Dessert menu, please."